Corient Private Wealth LLC Has $234.64 Million Stock Position in Deere & Company $DE

Key Points

• Corient Private Wealth LLC increased its Deere & Company stake by 52.2% in the fourth quarter, ending with 545,323 shares worth about $234.6 million.
• Deere reported better-than-expected quarterly results, posting EPS of $6.55 versus estimates of $5.70 and revenue of $13.37 billion versus $11.55 billion expected.
• The company also announced a quarterly dividend of $1.62 per share, payable August 10, while analysts remain broadly positive with a Moderate Buy consensus and an average price target of $639.58.

Corient Private Wealth LLC increased its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 52.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 545,323 shares of the industrial products company's stock after purchasing an additional 187,008 shares during the period. Corient Private Wealth LLC owned 0.20% of Deere & Company worth $234,639,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new position in shares of Deere & Company during the 4th quarter worth approximately $1,715,633,000. Capital World Investors raised its stake in Deere & Company by 53.9% in the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company's stock valued at $4,465,906,000 after acquiring an additional 3,358,264 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Deere & Company by 1,725.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company's stock valued at $932,870,000 after acquiring an additional 1,893,972 shares during the period. M&T Bank Corp lifted its holdings in Deere & Company by 1,199.8% during the 4th quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company's stock valued at $868,149,000 after purchasing an additional 1,721,239 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Deere & Company by 32.5% during the 4th quarter. Wellington Management Group LLP now owns 2,436,723 shares of the industrial products company's stock valued at $1,134,465,000 after purchasing an additional 597,087 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Price Performance

Deere & Company stock opened at $590.37 on Friday. The firm has a market cap of $159.36 billion, a PE ratio of 33.45, a price-to-earnings-growth ratio of 2.18 and a beta of 0.92. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The stock's fifty day moving average price is $574.09 and its two-hundred day moving average price is $552.39. Deere & Company has a one year low of $433.00 and a one year high of $674.19.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating analysts' consensus estimates of $5.70 by $0.85. The firm had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company's revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company posted $6.64 EPS. As a group, research analysts expect that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company's dividend payout ratio is presently 36.71%.

Analyst Ratings Changes

Several equities analysts have commented on DE shares. Wells Fargo & Company upped their price objective on shares of Deere & Company from $543.00 to $750.00 and gave the company an "overweight" rating in a report on Friday, February 20th. Wolfe Research raised their target price on shares of Deere & Company from $550.00 to $660.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 31st. Bank of America reduced their target price on shares of Deere & Company from $672.00 to $607.50 and set a "neutral" rating for the company in a report on Friday, May 22nd. Citigroup lowered their price target on shares of Deere & Company from $625.00 to $595.00 and set a "neutral" rating on the stock in a report on Friday, May 22nd. Finally, Weiss Ratings upgraded shares of Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, May 21st. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Deere & Company presently has an average rating of "Moderate Buy" and an average target price of $639.58.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company's principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.

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